Winston manufactures beauty appliances for people who neither have the time nor the budget for regular salon visits. Founded by Himanshu Adlakha and Nikita Adlakha, Winston’s new-age technology products give you salon-like results at home.
More About Winston From Shark Tank Season 2
Winston uses the 3S strategy –
- Super easy
They currently have 8 products, like face trimmer, eyebrow trimmer, blackhead remover, and LED face mask. Winston’s products are available on its website and e-commerce platforms like Flipkart, Amazon, and Nykaa.
Nikita wanted to pursue entrepreneurship after finishing college. She started selling international products that were not available in India on Instagram. Her dad had his own business. But Nikita experienced immense growth in her Instagram business and asked her father to join her. That business is called Milagro Beauty and is their family business now.
Himanshu has a background in electronics. His father is a distributor of brands like LG and Philips. He learned electronic skills from his father.
After one month of marriage, Nikita and Himanshu founded Winston combining Himanshu’s expertise in electronics and Nikita’s experience in the D2C. After the lockdown, the most demanding product on Nikita’s Instagram page was a face trimmer. That’s when they decided to build a brand in this product.
Their products are ‘Made in China.’ They are currently tied up with two vendors there.
Winston Shark Tank Pitch and Updates
Himanshu and Nikita appeared on Shark Tank India Season 2 Episode 5 and demanded INR 1 crore for 4% equity at a valuation of INR 25 crore.
Their face cleansers cost INR 2090 and 2990, respectively. The face and eyebrow trimmers cost INR 2490. Their trimmer has an in-built battery that supports USB charging and is travel-friendly. They also offer a one-year replacement warranty at your doorstep. Winstons’s complaint rate is less than 0.5%.
Aman felt their business has too many similarities with his own business. His father was also a distributor, and he did the same thing.
He asked about their strategy to fight the competitors and how long they could keep fighting. Nikita replied articulately that a product is not a brand. A brand has a product, marketing, team, relationship with its customer, after-sales services, and customer retention.
Their sales in FY 2021-22 were INR 1.2 crore. By the time they appeared on Shark Tank India, their sales were INR 1.5 crore for the FY 2022-23, and they were projecting INR 6 crore. For FY 2023-24, they were expecting a 6x growth of INR 18 crore.
Their face and eyebrow trimmer contribute to 23% each of their total sales. Callus remover contributes to 20% of total sales.
Their July sales were INR 42 lakhs. Their product cost was 30%, and they also gave a discount of 30%. 15% was their marketing spend, and 5% goes for salaries and overheads. After everything, their net profit for July was INR 3.44 lakhs.
Namita was the first to get out of the deal because she didn’t feel excited about the business. She pointed out two issues. One was that the products were traded from China. Hence there was a trust deficit. Second, she felt the face mask was gimmicky.
Peyush was out of the deal because he thought Aman could help them much better in this category with margin expansion.
However, Aman did not invest in the business because he felt he already had a similar brand. He believed they would be competitors, but he still wished them well. Anupam and Vineeta offered a combined deal of INR 1 crore at 10% equity at a valuation of INR 10 crore.
|Company Name||Winston Electronics Pvt Ltd|
|Founders||Himanshu Adlakha and Nikita Adlakha|
|Business||Personal Care Electronic Products|
|Profitability||Business is profitable|
|Shark Tank Episode||Season 2 – Episode 5|
|Asked For||INR 1 crore for 4% equity|
|Deal||INR 1 crore for 10% equity|
|Sharks Invested||Anupam Mittal and Vineeta Singh|
|Valuation Given||INR 10 crore|
Winston got a deal of INR 1 crore from Anupam Mittal and Vineeta Singh for 10% equity at a valuation of INR 10 crore.
Frequently Asked Questions About Winston
After their appearance on Shark Tank India Season 2, people were trying to find more information about Winston. Here are some of the frequently asked questions about them.
1. Who Are The Founders of Winston?
Himanshu Adlakha and Nikita Adlakha are the founders of Winston.
2. Is Winston profitable?
Winston is profitable. Their net profit was 8.1% in July 2022.
3. Why Other Sharks did not invest in Winston?
Namita couldn’t feel excited about the business. Peyush felt he was not the best person to help them at that stage. Aman couldn’t invest due to a conflict of interest as they could be competitors.
4. What happened to Winston after Shark Tank?
Winston got funding of INR 1 crore from Anupam and Vineeta. After appearing in Shark Tank India, their daily traffic spiked to a whopping 114%, and their sales tripled. Their revenue numbers have been at an all-time high since they launched the brand. In January 2023 alone, their sales were INR 1.5 crore.